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30th December 2015

Singapore Real Estate

Yio Chu Kang exec condo site up for tender

The government on Tuesday launched two executive condominium (EC) sites - one at Yio Chu Kang under the confirmed list for public tender, and another at Sumang Walk for application under the reserve list. Confirmed list sites are launched according to schedule, regardless of demand, while reserve list sites are launched for tender only upon successful application by a developer.

Two Confirmed List sites at Tampines Industrial Drive (Plot 5) and Tuas South Link 2 (Plot 9) have been launched for sale by public tender, JTC announced on Tuesday (Dec 29). The launches are under the second half 2015 Industrial Government Land Sales Programme.

Parts of the Central Business District (CBD) and Civic District will go car-free every last Sunday of the month in a pilot project to kick off early next year. Under the six-month trial, cyclists and joggers will be able to enjoy a 4.7km route of fully and partially closed roads in the area in the morning, with community activities and mass workouts also being organised for the public.

Amid broad market weakness and concerns that higher interest rates would make dividend yields less attractive, the SGX S-Reit 20 Index's year-to-date average total return was a negative 5.5 per cent as at Monday, ahead of the year's final trading day on Thursday. Individually, total returns ranged from a negative 20 per cent to a positive 10.1 per cent, data in an SGX My Gateway report on Tuesday showed.

The French group that bought the Raffles Hotel brand early this month is also prominent in trying to combat climate change. AccorHotels has instigated tree-planting programmes around the world to offset what it sees as the damaging effects of carbon emissions.

Construction group and property developer Tiong Seng Holdings said its unit Tiong Seng Contractors has won a contract from the Land Transport Authority. This is for the proposed construction of a bus depot in Ulu Pandan and is worth about $69.9 million.

The Housing and Development Board (HDB) should review its rules for the inheritance of flats. In line with market cooling measures in 2010, private property owners are not allowed to inherit subsidised flats within the Minimum Occupation Period (MOP). Even if the proposed owner sells his private property upon execution of the will, he would still be debarred for 30 months.